In 2023, China’s State Administration for Market Regulation (SAMR) prohibited a merger in the public utilities sector—the first such case in China to be blocked on antitrust grounds. The proposed transaction involved two regional water supply companies seeking to merge, citing operational efficiency and resource integration as key motivations. However, after an in-depth investigation, SAMR concluded that the merger would lead to excessive market concentration, significantly weaken competition, and potentially result in higher water tariffs and reduced service quality—posing clear risks to consumer welfare. Public utilities often exhibit natural monopoly characteristics, and their markets typically lack robust competition. Allowing further consolidation would exacerbate monopolistic tendencies. Accordingly, SAMR invoked provisions of China’s Anti-Monopoly Law to block the deal, underscoring its commitment to safeguarding competitive market structures and public interests in essential sectors. This landmark decision sends a clear message to the market: even efficiency-driven mergers in industries vital to people’s livelihoods must undergo rigorous antitrust scrutiny to ensure they do not undermine fair competition or harm consumers.
2023年，中国市场监管总局依法禁止了一起公用事业领域的经营者集中案件，这是中国首例在公用事业领域因反垄断审查而被禁止的企业并购案。该案涉及两家区域性供水企业拟实施合并，旨在整合资源、提升运营效率。然而，市场监管总局经深入调查后认为，该合并将导致相关市场高度集中，显著削弱竞争，可能引发水价上涨、服务质量下降等损害消费者利益的风险。公用事业具有自然垄断属性，其市场结构本就缺乏充分竞争，若再通过并购进一步减少市场主体数量，将加剧垄断风险。因此，监管部门依据《反垄断法》相关规定，作出禁止决定，体现了对民生领域市场竞争秩序的高度重视和对公共利益的有力保护。此案也向市场释放明确信号：即便是以提升效率为名的并购，在涉及国计民生的关键行业，仍需严格接受反垄断审查，确保不损害公平竞争和消费者权益。
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